Lecture 1: Introducing Brands and Branding

Six Steps to Manage a Brand

1. Assess

2. Plan

3. Create

4. Align

5. Link

6. Understand

What is a Brand?

A brand is a name, term, symbol, design or combination of these elements that should identify goods or services of a company and differentiate them from competitors (AMA).

Differentiate Between a Product and a Brand

A product becomes a brand when the physical product is augmented by something else - images, symbols, perceptions, feelings - to produce an integral idea greater than the sum of its parts (Batey)

Four Key Differences Between a Product and a Brand

1. A product is bought for what it does; a brand is bought for what it means

2. A product occupies shelves, a brand occupies consumers minds

3. A product can become outdated; a brand is timeless

4. A product can be copied; a brand is unique

What is Branding

Branding means much more than just giving a brand name and signalling to the outside world that such a product or service has been stamped with the mark and imprint of an organisation. Branding, though, is not about being on top of something, but within something (Kapferer)

Origin of Branding

Brand was originally referred to as a piece of burning wood in Scandanavia. Owners marked their livestock to identify them.

Brand History

What Led to the Rise of Brands?

1. Mass Production

2. Transportation (From Local to Global)

3. Mass Communication

4. Consumer Purchasing Power

5. Intensified Competition & Market Saturation

Three Stages of Branding

1. The Commodity Stage

2. Differentiation through Branding

3. Brand as an Icon - Building a relationship with customers

What Distinguishes a Brand

What distinguishes a brand from an unbranded commodity counterpart and gives it its equity is the sum total of consumers’ perception and feelings about the product’s attributes, about how it performs, about the brand name, and about the company associated with producing it

Equity Definition

the sum total of consumer’s perceptions and feelings about the product’s attributes

Brand Association

anything linked in memory to a brand

Brand Image

a set of associations, usually organised in some meaningful way

Reasons Why People Consume Brands

• We buy brands based on symbolic representation, shared values, meanings

• We buy brands based on our identity (the actual self) or the identity we wish to project or communicate to others (ideal/social self)

• Brands can take a unique meaning that supports our daily lives or even enhances our lives

Meanings of Brands

Consumers view a brand as an important part of the product, and branding can add value to a product. Consumers attach meaning to brands and develop relationships. Brands have meanings well beyond a product’s physical attributes.

Social Psychology of Brands (Rosenbraum-Elliot et al)

Two Facets of Brand

Who Makes the Brand?

• Influencers

• Company

• Popular Culture

• Consumers

Brand Dimensions

• Brand as Asset

• Brand as Strategy

• Brand as Corporate Culture

• Brand as Cultural Phenomenon

• Brand as Consumer Identity

Brand as Consumer Identity

• Extended Self

• Brand Communities

• Brand Relationships

• Brand Love, Brand Loyalty

Brand As Strategy

• Vision

• Mission

• Values

• Personality

• Logo & Visual Identity

• Portfolio & Architecture

What are Brands For?

• A sign of quality

• A way to differentiate yourself in a crowded market

• A sign of dependability in a global world

• A sense of belonging

• A financial instrument